Banks offering Top Education Loan Schemes for Women in India

Education is vital for everybody, be it men or women. But unfortunately in India, there are people who think women are inferior to men and keep them away from pursuing their career goals.

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To improvise this scenario, the government and private banks have come forward with various education loan schemes for women to help them pursue higher education and follow their dreams. In this post, we have compiled a list of best education loan schemes available for women students.

1. Allahabad Bank Education Loan

Allahabad bank offers up to Rs. 20 lakhs to Indian students as a part of their education loan schemes. There is a 0.50% rebate for girl students along with 1.00% interest concession if paid within the moratorium period.

2. Indian Overseas Bank Education Loan

Indian Overseas Bank offers education loan under the Vidya Jyothi Scheme. Under this scheme, the bank offers education loan up to 30 lakhs to students in India and up to 40 lakhs for those pursuing higher education abroad. There is an interest concession of 0.50% especially for girl students.

3. Central Bank of India Education Loan

Central bank’s education loan “Cent Vidyarthi” loan offers Rs. 10 lakhs to students studying in India and 20 lakhs to students who want to study abroad. The rate of interest for the female students is MCLR+1.50% while for the males, it is MCLR+2.00%.

4. State Bank of India Education Loan

State bank of India provides education loan for students who wish to continue higher education abroad. For a loan amount of up to Rs. 7.5 lakhs, the rate of interest is 2% above MCLR, currently 11.10% p.a. while for amount about Rs. 7.5 lakhs, the rate of interest charged is 1.85 % above MCLR, currently 10.75% p.a. however, female students can enjoy a concession of 0.50% in the interest rate.

To know about the margin, security and other criteria related to the loan, read here.

5. Corporation Bank Education Loan

Corporation bank offers education loan to students who wants to pursue higher education in India and abroad. The maximum loan amount sanctioned for students studying in India is Rs. 10 lakhs while those who wish to go abroad is Rs. 20 lakhs. The female students can avail the benefit of availing concession rate of 0.50%.

So, if you are a woman who wish to pursue higher education in India and abroad, visit any of the above listed bank and learn about their loans on offer so that you can build a bright future for yourself.